Starting a Medical Billing Business > Starting Your Own Medical Billing Business

Service Pricing

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PMRNC:
One of the things we have to remember is that we are BUSINESS OWNERS. I ask a client who hims and haw's over pricing "Would you call and question the electric company over the prices of your electricity? Would you question your Mortgage company about your mortgage payment? would you question Kinko about their per copy charge?  the answer is NO.  We are NO different than any of those services in that regard. We do NOT need to explain charges beyond market value. If we do, it looks unprofessional and it takes away the credibility for the entire industry. The minute you have another billing company swoop in and say we'll do it for 4 % (yes this company exists, they are vultures) that undercuts us completely. STICK with your charges, stand your ground and do not appear to be desperate. YOUR time is JUST as valuable.

QueenAlicia:
Yes, and we also want our business to make money.  We work hard and we don't want our businesses to just take care of our overhead costs but to also help us keep our lights on.

galley:
Can anyone help me on how to charge a flat fee.  I would like to be able to write a contract based on a flat fee rate.  Is it possible to base it upon the amount of claims processed or is that something you do after the office is interviewed?  I hear a lot about % versus flat fee, pros and cons.  I want to charge a flat fee because I want to get paid for all work performed.  I would appreciate any help and all suggestions.

PMRNC:
I have outlined how to do this in several posts here on the forum. Do a search for flat fee billing and I'm sure it will come up. I also have it broken down in our members only area, if you are a member you can find it in our learning center under pricing your services. There is a very simple formula where basically expenses are added in with your hourly rate and an estimate of time required for that particular client, but again, if you search the forum here you will find a more detailed post with even example.

galley:
THANKS FOR THE INFORMATION BUT I AM NOT ABLE TO LOCATE ANYTHING ON THIS FORUM ACCEPT WHAT YOU HAVE WRITTEN IN RESPONSE TO ME.    I AM A MEMBER AND I HAVE LOOKED FOR THE LEARNING CENTER AND ALSO CAME UP WITH NOTHING.  I AM NEW TO THE FORUM AND POSSIBLY DON'T KNOW HOW TO USE.  I AM ABLE TO READ POST ABOUT FLAT RATE PRICING FROM OTHERS BUT NOTHING IN DETAIL WITH A FORMULA.  MY UNDERSTANDING IS THE TIME AND COST IT WOULD TAKE YOU TO PREPARE A CLAIM BASED UPON HOURLY RATE.  I'M NOT QUITE SURE AT THIS POINT HOW LONG IT WILL TAKE ME TO PREPARE A CLAIM.  I AM A BILLER IN A MEDICAL OFFICE AT THE PRESENT.  ITS HARD TO ACCOUNT FOR MY TIME BECAUSE I'M DOING SO MUCH MORE IN BETWEEN PROCESSING CLAIMS THAT I WILL NOT BE RESPONSIBLE FOR WITH MY BUSINESS.  IF I COULD FIND THOSE EXAMPLES YOU SPOKE OF, WITHIN THE FORUM OR LEARNING CENTER MAYBE I CAN FIGURE SOMETHING THAT WOULD BE GOOD FOR ME.  I'M STILL CONFUSED

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